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❕NEWS Crypto will soon be added to financial statements

AudraMiller

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There are many banks worldwide that are sceptical when it comes to the use of crypto and how it is being integrated into certain financial systems as well, and many of the central banks have spoken out about this. According to Cathie Wood however, it is just a matter of time before these central banks have to add the cryptocurrencies and these type of assets to their financial statements and their balance sheets as well, including banks from Argentina and even the UK. How long do you think it will take before this becomes a reality?
 
obviously I believe with so many banks and institution not believing in cryptocurrency , I believe that very soon they would be know the importance attached to cryptocurrency and why they should invest heavily if they are to benefit more from it
 
obviously I believe with so many banks and institution not believing in cryptocurrency , I believe that very soon they would be know the importance attached to cryptocurrency and why they should invest heavily if they are to benefit more from it
I think that at this point there is much people that are using the coins that they are not able to stop it and therefore if they are not able to go against crypto then i guess that the best thing to be would try to find a way to regulate it and make the crypto beneficial for the financial institutions are in the country.
 
It is true that so many countries are still so skeptical about cryptocurrencies for sure. But so many of them are also starting to warm up to them. This is because they have legalized them and made them part of their finances. Which is great because they give people some very good investment options. Which such adoptions, the cryptocurrencies will soon be added to financial statements for sure.
 
This might be a good thing to help crypto adoption but it's also a disadvantage since crypto should be anonymous. Also crypto was created so that you can use it freely without the banks owning control and records over it so there will be a lot of people that won't agree with this
 
Crypto is a dangerous thing of you can not bear the risk of using it , because there is no country that is backing it and you can actually end up paying a lot of taxes on the money and assets that can diminish , fall and vanish anytime , So always invest wisely in such assets and the developing countries are careful rightfully .
 
I think that at this point there is much people that are using the coins that they are not able to stop it and therefore if they are not able to go against crypto then i guess that the best thing to be would try to find a way to regulate it and make the crypto beneficial for the financial institutions are in the country.
yes it would be good for them to regulate it , I think they can't do anything regarding it , but regulating it seems to be th best thing ,even if they ban it , people would still find way to trade and do other things , cryptocurrency have so many benefit attached I think
 
I don't think this will be a welcome idea to most crypto enthusiasts. The fact is that it will make the anonymous nature of crypto to be eroded. Most people that are into crypto are there because of its anonymity. Inclusion of it to the financial statement means that it has to be made known.
 
Yes that's right it is mostly being done by the countries for the purpose of increased tax collection so that no one can hide his wealth without paying taxes and 37% tax on Us citizens speaks of what they have to go through when they trade in Crypto markets actually so it should never be done actually indeed .
 
Yes that's right it is mostly being done by the countries for the purpose of increased tax collection so that no one can hide his wealth without paying taxes and 37% tax on Us citizens speaks of what they have to go through when they trade in Crypto markets actually so it should never be done actually indeed .
it makes me funny because in the US the founding fathers wanted to found a country without taxes and this achievement was 100 years without taxes and their state survived, I am not opposed to taxes but 36% on profits is ridiculously high, it is the opposite for what the United States was founded, in my country it is 26% which is very high as well.
 
Yes , that's right the amount increases with the slabs and if you have Crypto worth of $100k and you make profits then you have to pay 37% of your profits in taxes and if your amount is stable you won't taxes on it , So advisable is to hold longer if you can to avoid paying big taxes on your Crypto if you are in the Us .
 
This will be the rate of adoption of bitcoin by many countries, and thereby increasing its chances of banks being adding it to there financial statement. But I believe, if those countries that has adopted bitcoin sustain there momentum many country will join.
 
Yes , that's right the amount increases with the slabs and if you have Crypto worth of $100k and you make profits then you have to pay 37% of your profits in taxes and if your amount is stable you won't taxes on it , So advisable is to hold longer if you can to avoid paying big taxes on your Crypto if you are in the Us .
And probably with the passage of time these taxes will grow if people continue to adopt Bitcoin and see it as a form of money taxes will surely increase, because governments will always want to get the maximum out of everything they can...
 
Yes that's right the authorities are always the same either there are countries in which Crypto is banned completely or there are countries in which the traders have to pay high taxes both options are not at all encouraging for the investors in the Crypto markets.
 
This will be the rate of adoption of bitcoin by many countries, and thereby increasing its chances of banks being adding it to there financial statement. But I believe, if those countries that has adopted bitcoin sustain there momentum many country will join.
Sure the rate of adoption of Bitcoin by countries might have boosted forward , I think the rate of Bitcoin development would increase as time goes on ,when more people are so interested in it , it won't be way to difficult to reach the expected development no doubt
 
Sure the rate of adoption of Bitcoin by countries might have boosted forward , I think the rate of Bitcoin development would increase as time goes on ,when more people are so interested in it , it won't be way to difficult to reach the expected development no doubt
Just that people should not have more hope on crypto. As far as my personal observation of crypto is concerned, crypto always thrives the most when people don't really have much expectation on it. The 2017 and 2020 crypto boom caught many unawares. Only few people saw it coming.
 
That will be very ridiculous. Financial institutions are trying all their possible best to monitor and regulate cryptocurrency. It is their last bet to remain important in fast challenging monetary revolution. Cryptocurrency will definite revolutionized banking system and how we see money. No matter, how they try to cage crypto, they can't withstand the ever advanced decentralization.
 
Sure the rate of adoption of Bitcoin by countries might have boosted forward , I think the rate of Bitcoin development would increase as time goes on ,when more people are so interested in it , it won't be way to difficult to reach the expected development no doubt
Yeah, so many people are interested in Bitcoin and that makes it easier for countries to accept them widely. Which is so great because there are so many people who will benefit a lot from Bitcoin investments.

Giving people an investment opportunity like that comes back to benefit the country. This is because they will come back to paying revenue.
 
Just that people should not have more hope on crypto. As far as my personal observation of crypto is concerned, crypto always thrives the most when people don't really have much expectation on it. The 2017 and 2020 crypto boom caught many unawares. Only few people saw it coming.
Maybe this one too might actually be shocking ,but all I believe is that when it bounces to $30k ,there would be that rush to invest , because people would want to make more profit ,so they would lay that benchmark on investing more ,it's quite noticeable I hope it really boost at a start , lets see what would happen
 
You're right about that and that's a proof that the idea of cryptocurrency is one day going to be a worldwide term and right now, it's undergoing some kind of innovation and development.
Even for the government in my country, I know they are always the last to do beneficial things so they would come around when other countries have accepted it.
 

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